Tuesday, February 22, 2011

Sirius (LSE:SXX) Potash Mine to Yield £Billions

Plans to build a giant mine in the area to unearth billions of pounds worth of potash could be submitted in as little as 18 months.

The news was revealed by the chief executive of Sirius Minerals (LSE:SXX) as he visited Scarborough to talk to the town’s business leaders about the project.

Chris Fraser was invited to speak at the Ambassadors Dinner, at Beiderbecke’s Hotel, and update guests on the proposals to build a potash mine on the Yorkshire Coast, creating 5,000 jobs.

The plans were unveiled last month when mineral rights between Scarborough and Whitby were sold by York Potash to Sirius Minerals in a move aimed at creating the UK’s first potash mine in 40 years.

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